KEWAJARAN HARGA SAHAM MENGGUNAKAN ANALISIS FUNDAMENTAL PRICE EARNING RASIO (PER) SEBAGAI DASAR PENGAMBILAN KEPUTUSAN INVESTASI (Studi pada Perusahaan Subsektor Industri Barang Konsumsi yang Listed di Bursa Efek Indonesia Tahun 2013-2016)
Abstract
This study aims to determine the relationship between Return On Equity (ROE), Earning Per Share (EPS), Earning Growth (EG), Dividend Payout Ratio (DPR) towards Price Earning Ratio (PER). This study uses type of explanatory research with quantitative approach. The population of this study is consumer goods Industry Company listed on the Indonesia Stock Exchange which are 37 companies. Technique of data retrieval which is used by this study is purposive sampling which produces 8 companies based on the criteria fulfillment. This study uses descriptive analysis, classical assumption test, and regression analysis. The results of this study indicate that Return On Equity (ROE), Earning Per Share (EPS), Earning Growth (EG), Dividend Payout Ratio (DPR) simultaneously can affect Price Earning Ratio (PER) of 60,1% and the remaining 39,9% are influenced by other variables which is not included in this study. Partially, variable of Return on Equity (ROE) has significant effect towards Price Earning Ratio (PER). Variable of Earning Per Share (EPS) has no effect on Price Earning Ratio (PER). Dividend Payout Ratio (DPR) variable has significant effect toward Price Earning Ratio (PER). Earning Growth (EG) variable has no effect on Price Earning Ratio (PER).
Keywords: Return On Equity (ROE), Earning Per Share (EPS), Earning Growth (EG), Dividend Payout Ratio (DPR), Price Earning Ratio (PER)
ABSTRAK
Penelitian ini bertujuan untuk mengetahui hubungan antara Return On Equity (ROE), Earning Per Share (EPS), Earning Growth (EG), Dividend Payout Ratio (DPR) terhadap Price Earning Ratio (PER). Jenis penelitian yang digunakan adalah explanatory research dengan pendekatan kuantitatif. Populasi dalam penelitian ini adalah perusahan industri barang konsumsi yang terdaftar di Bursa Efek Indonesia yaitu sebanyak 37 perusahaan. Teknik pengambilan sampel yang digunakan adalah purposive sampling yang menghasilkan 8 perusahaan yang memenuhi kriteria. Analisis data yang digunakan adalah analisis deskriptif, uji asumsi klasik dan analisis regresi. Hasil penelitian ini menunjukkan bahwa Return On Equity (ROE), Earning Per Share (EPS), Earning Growth (EG), Dividend Payout Ratio (DPR) secara simultan dapat mempengaruhi Price Earning Ratio (PER) sebesar 60,1% dan sisanya sebesar 39,9% dipengaruhi oleh variabel lain yang tidak termasuk dalam penelitian ini. Secara parsial variabel Return On Equity (ROE) berpengaruh signifikan terhadap Price Earning Ratio (PER). Variabel Earning Per Share (EPS) tidak berpengaruh terhadap Price Earning Ratio (PER). Variabel Dividend Payout Ratio (DPR) berpengaruh signifikan. Variabel Earning Growth (EG) tidak berpengaruh terhadap Price Earning Ratio (PER).
Kata kunci : Return On Equity (ROE), Earning Per Share (EPS), Earning Growth (EG), Dividend Payout Ratio (DPR), Price Earning Ratio (PER)
